NMI (NASDAQ:NMIH) Cut to "Market Perform" at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods cut shares of NMI (NASDAQ:NMIH - Free Report) from an outperform rating to a market perform rating in a research note released on Monday morning, Marketbeat reports. The firm currently has $43.00 price target on the financial services provider's stock, up from their prior price target of $42.00.

A number of other research analysts have also commented on the company. Wall Street Zen upgraded NMI from a "hold" rating to a "buy" rating in a research note on Monday, May 5th. Compass Point reiterated a "buy" rating and set a $37.00 price objective (up from $34.00) on shares of NMI in a research note on Friday, May 23rd. Finally, JPMorgan Chase & Co. dropped their price objective on NMI from $42.00 to $41.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $42.43.

NMI Stock Performance

Shares of NASDAQ NMIH traded down $1.96 during trading hours on Monday, hitting $41.19. 570,650 shares of the company's stock were exchanged, compared to its average volume of 557,409. NMI has a 1-year low of $31.90 and a 1-year high of $43.29. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.74 and a quick ratio of 0.74. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of 8.90, a PEG ratio of 1.46 and a beta of 0.55. The company's 50-day moving average price is $39.32 and its 200-day moving average price is $37.08.

NMI (NASDAQ:NMIH - Get Free Report) last issued its earnings results on Tuesday, April 29th. The financial services provider reported $1.28 EPS for the quarter, beating analysts' consensus estimates of $1.10 by $0.18. The business had revenue of $173.25 million during the quarter, compared to analyst estimates of $169.04 million. NMI had a return on equity of 17.27% and a net margin of 55.93%. NMI's revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.08 earnings per share. On average, sell-side analysts expect that NMI will post 4.62 earnings per share for the current fiscal year.

Insider Buying and Selling at NMI

In other NMI news, Chairman Bradley M. Shuster sold 21,545 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $39.56, for a total transaction of $852,320.20. Following the transaction, the chairman owned 409,792 shares of the company's stock, valued at $16,211,371.52. The trade was a 4.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Adam Pollitzer sold 57,166 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $36.54, for a total value of $2,088,845.64. Following the transaction, the chief executive officer directly owned 329,465 shares in the company, valued at $12,038,651.10. This trade represents a 14.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,697 shares of company stock valued at $4,210,337 in the last ninety days. Insiders own 3.00% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Nuveen LLC acquired a new position in NMI in the 1st quarter valued at $44,886,000. Millennium Management LLC lifted its position in shares of NMI by 209.9% during the 1st quarter. Millennium Management LLC now owns 1,432,950 shares of the financial services provider's stock valued at $51,658,000 after acquiring an additional 970,551 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of NMI by 70.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,034,419 shares of the financial services provider's stock valued at $73,341,000 after acquiring an additional 844,037 shares during the period. Norges Bank bought a new stake in shares of NMI during the 4th quarter valued at $13,174,000. Finally, Raymond James Financial Inc. bought a new stake in shares of NMI during the 4th quarter valued at $13,136,000. 94.12% of the stock is owned by institutional investors and hedge funds.

About NMI

NMI Holdings, Inc provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance services, such as primary and pool insurance; and outsourced loan review services to mortgage loan originators. It serves national and regional mortgage banks, money center banks, credit unions, community banks, builder-owned mortgage lenders, internet-sourced lenders, and other non-bank lenders.